Solved

Refer to the Following

Question 8

Multiple Choice

Refer to the following:
A manger of a firm with market power faces the marginal revenue product and average revenue product curves shown below. The firm incurs weekly fixed costs of $1,800. The firm employs a single variable input, labor, which costs $600 per worker each week.
Refer to the following: A manger of a firm with market power faces the marginal revenue product and average revenue product curves shown below. The firm incurs weekly fixed costs of $1,800. The firm employs a single variable input, labor, which costs $600 per worker each week.    -The 14<sup>th</sup> worker hired adds $_______ to the firm's total revenue each week. A)  $200 per week B)  $400 per week C)  $500 per week D)  $700 per week E)  $900 per week
-The 14th worker hired adds $_______ to the firm's total revenue each week.


A) $200 per week
B) $400 per week
C) $500 per week
D) $700 per week
E) $900 per week

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions